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The Land Cruiser LC300, a new version of one of the most sought-after SUVs made by the Japanese automaker, has not been available for pre-order at many dealerships in the two cities since March. Some customers who were able to place pre-orders do not know when exactly their cars would be delivered. Dealerships say it could take nearly a year. Toyota is facing issues with supply of some models, including the Land Cruiser, due to the shortage of parts, a company representative said. Because of the shortage, customers are now buying pre-order contracts from those who have placed the order but no longer have a demand for the car. The new Land Cruiser was first sold in Vietnam in August last year with a price tag of VND500 million ($21,517), but on the secondary market it is being sold at VND700 million or even VND1.6 billion, which is 40-320 percent higher. Toyota ranked second in sales behind Vietnam's Truong Hai Auto Corporation in the first months with 37,906 units, up 57 … [Read more...] about Toyota Land Cruiser out of stock in Vietnam

Utop – an app for online shopping using blockchain technology by FPT Group. (Photo: SGGP) CEO of Vietnam Blockchain JSC. Do Van Long commented that owing to negative incidents of digital currency, many people tend to think that blockchain is merely digital currency, which is extremely mistaken. In fact, this advanced technology can be used to create digital property or to upgrade existing information management systems to gain a higher level of security and transparency. Technology Director of FPT Group Vu Anh Tu also stated that besides the popular use of blockchain in digital currency, it can effectively boost innovative technological startups thanks to its wide applications. Statistics from Vietnam Blockchain Association reveal that among 200-top successful blockchain enterprise in the world, 7 were founded by Vietnamese people. Vietnam is one of five leading countries in this technology. At present, about 10 Vietnamese innovative startups in the blockchain field have the … [Read more...] about Vietnam to actively apply blockchain technology in various fields

It was led by angel investor Clement Benoit and U.S.-based startup accelerator Y Combinator. The money will be used to improve its app by building a social network in it so users can share their investment knowledge. Anfin was launched in October last year and has raised around $7 million to date. Its app allows users to invest as little as VND10,000. Its CEO, Phuoc Tran, said the app has over 100,000 active accounts with a total transaction value of $10 million. Benoit said creating a product that serves many groups of people in society is the right move in a big market such as Asia. He hoped the company would branch out to other countries and succeed in its social investing business model. Interest in stocks remains sky-high in Vietnam, with 476,300 new accounts opened in May, a new record. Phuoc said despite the volatility in the market, stocks remain an asset class with great prospects. Data from investment fund Dragon Capital Vietnam shows that in the last five … [Read more...] about Financial startup Anfin raises $4.8 mln

La Quy Hien, deputy CEO and formerly head accountant, is the latest to quit, leaving chairman Dang Tat Thang and CEO Bui Hai Huyen as the only two remaining board members. FLC said Hien’s resignation would be approved at the next general meeting scheduled for July 2. It failed to hold an extraordinary general meeting on June 10 when shareholders holding only 33.7 percent of the charter capital turned up while the law requires at least 50 percent. The law allows it to conduct the second extraordinary general meeting if shareholders with over 33 percent of charter capital are present. At the meeting, two new candidates to replace former chairman Trinh Van Quyet and former deputy chairwoman Huong Tran Kieu Dung will be presented to shareholders. Quyet and Huong were arrested in March and April amid an investigation into possible stock market fraud that caused "serious damage to investors and affected the operations of Vietnam's stock exchange," according to the Ministry of … [Read more...] about Another FLC board member sends in resignation

The index closed 3.2 points lower after losing over 41 points this week. Trading on the Ho Chi Minh Stock Exchange fell by 15.6 percent to VND13.31 trillion ($572.7 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 15 tickers gain, with SSI of leading brokerage SSI Securities and STB of HCMC-based lender Sacombank closing at ceiling prices. They gained 6.9 and 6.8 percent, respectively. Three bank stocks, TCB of Techcombank, MBB of MBBank and VPB of VPBank, followed, rising 4.4 to 5.5 percent. Other winners included HPG of steel giant Hoa Phat, up 3.4 percent, and ACB of lender Asia Commercial Bank, up 3.3 percent. Twelve blue chips fell, led by two energy tickers: GAS of Petrovietnam Gas and POW of Petrovietnam Power. They both hit floor prices, losing 6.8-6.9 percent. FPT of IT giant FPT Corp closed 5.2 percent lower, and MWG of electronics retailer Mobile World dropped 5 percent. Foreign investors were net buyers to the tune of VND24.1 … [Read more...] about VN-Index hits 14-month low

The index closed three points lower after gaining nearly 20 points Thursday. It has lost nearly 32 points this week. Trading on the Ho Chi Minh Stock Exchange increased by 0.2 percent to VND10.18 trillion ($437.71 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 14 tickers drop. POW of electricity producer Petrovietnam Power Corporation fell 2.5 percent, while GAS of state-owned Petrovietnam Gas dropped 2.4 percent. Other losers included HDB of HDBank, down 2.1 percent, CTG of state-owned lender VietinBank, down 2 percent, and TPB of private TPBank, down 1.9 percent. Thirteen blue chips gained, led by BVH of insurance company Bao Viet Holdings with a 4 percent rise. It was followed by SAB of brewer Sabeco, up 1.4 percent, and PNJ of Phu Nhuan Jewelry, up 1.2 percent. Foreign investors ended three sessions of buying with a net sale of VND82 billion, mainly selling NVL of real estate developer Novaland Group and HPG of steelmaker Hoa Phat Group. … [Read more...] about VN-Index ends week with 4th losing session

About 2.47 quadrillion VND was raised for the State budget in the primary G-bond market over the last 12 years. (Photo: VNA) Hanoi (VNA) – The Government bond market of Vietnam officially became operational at the Hanoi Stock Exchange (HNX) on September 24, 2009. Since then, about 2.47 quadrillion VND (108.5 billion USD) has been raised for the State budget from the primary market to support socio-economic development in the country. More than 206 trillion VND worth of G-bonds has been raised for the State budget annually, accounting for almost 10 percent of total investment in society in 2020 and 28.3 percent of that by the State sector last year. Bond issuance volume up, interest rates down The HNX said that in order to mobilise the above mentioned sum of money, it has organised more than 2,600 auctions, with 60 - 70 percent of the bonds offered successfully sold on average. Notably, interest rates in the G-bond market have declined considerably over the past 12 … [Read more...] about Over 108.5 billion USD raised from primary G-bond market in 12 years